Rich Chinese shift focus from growing to preserving assets.

China Daily Mail

china-rich-emigrate-007China’s rich continue to want to invest and move abroad in large numbers, but their goals have begun to shift, consulting firm Bain & Company said in a recent report.

Three out of five wealthy mainland Chinese are looking to immigrate out of China while another third own investments abroad, Bain said in its “China Private Wealth Report, 2013,” based on a survey conducted earlier this year of 3,300 “high-net-worth individuals” with at least 10 million yuan (US$1.6 million) in assets to invest.

Jennifer Zeng, the lead author of the report, said the desire for overseas immigration and investment is a defensive measure for China’s rich. “The more they look for risk diversification, the more they look elsewhere.” 

She pointed out that the proportion of wealthy Chinese with overseas investments has doubled to 33% since 2011, the last time the survey was completed. Among the ultra-high-

View original post 410 more words